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From: dave@utcsrgv.UUCP (Dave Sherman)
Newsgroups: can.politics
Subject: Re: American fund bank accounts in Canadian banks
Message-ID: <3763@utcsrgv.UUCP>
Date: Fri, 6-Apr-84 01:04:53 EST
Article-I.D.: utcsrgv.3763
Posted: Fri Apr  6 01:04:53 1984
Date-Received: Fri, 6-Apr-84 01:19:06 EST
References: <634@hcr.UUCP>
Organization: The Law Society of Upper Canada, Toronto
Lines: 13

I don't think it's a case of "Canadian banks encouraging Canadians
to exploit the fact that our dollar is losing ground". I think it's
a case of the banks competing for services, as they always do (note
that our banks generally compete on services rather than interest rates).
There are lots of people who prefer to hold American money for various
reasons. For one, they don't lose on the exchange from switching back
and forth every time they need some. And yes, some people want to speculate
against the Canadian dollar. Would you rather they took their money out of
the country and put it in a savings account in Buffalo?

Dave Sherman
-- 
 {allegra,cornell,decvax,ihnp4,linus,utzoo}!utcsrgv!dave